Visa has opened a new innovation centre in London, where the company will work with financial institutions, merchants and other partners to develop the next generation of payment solutions.
The 1,000 sq m facility, known as Visa Innovation Center London, is located at Visa’s European headquarters in Paddington Basin. It is touted to be the largest in Visa’s global network of innovation centres.
The centre features practical demonstrations to excite and engage visitors, including applications of the Internet of Things (IoT) in connected car and connected home environments, such paying for car insurance or placing a grocery order from a refrigerator.
Additionally, visitors will experience the future of retail using virtual reality to pick just the right seat for an upcoming Formula E race and biometric authentication to pay for tickets.
With the opening of innovation centre, Visa announced that fintech developers across Europe will now be able to take advantage of the Visa Developer Platform to create new, secure ways to pay.
Visa executive vice president for innovation and strategic partnerships Jim McCarthy said: “What makes the approach we take in our innovation centres unique is that they're all about collaborating with clients to solve real world, consumer pain points or business problems using digital solutions.
“We’ve had great success doing this in our centres globally and are very excited to be opening a state-of-the art facility in Europe."
The new facility joins a global network of innovation centres and studios located in technology hotspots, including Berlin, Dubai, Miami, San Francisco, Singapore, Sao Paulo and Tel Aviv.